17.11.202500:36:41UTC+00Singapore NODX Rises the Most in Near 4 Years

In October 2025, Singapore's non-oil domestic exports (NODX) experienced a remarkable 22.2% increase year-on-year, significantly accelerating from a revised 7.0% rise in September. This marked the second month in a row of NODX growth, and the fastest increase since November 2021, driven by substantial hikes in both electronic and non-electronic exports. Electronic exports surged 33.2%, building on a 30.4% rise the previous month, thanks to a notable increase in shipments of personal computers (77.7%), integrated circuits (40.9%), and disk media products (31.4%). Similarly, non-electronic exports increased by 18.8% year-on-year, after a modest 0.5% growth in September, buoyed by significant advances in non-monetary gold (176.8%), pharmaceuticals (25.2%), and specialized machinery (16.1%). The growth in exports was mainly driven by demand from Thailand (91.1%), Hong Kong (66.9%), Taiwan (61.5%), South Korea (38.0%), and Malaysia (29.2%), with a slight uptick in exports to China (0.1%). However, exports to the US fell by 12.5% due to newly introduced American tariffs, and those to Japan saw a marginal decrease of 0.1%.